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First Post
2 days ago
- Business
- First Post
Can debt-ridden Pakistan afford to hike its defence budget?
Pakistan is expected to raise its defence budget for the 2025-26 fiscal year. The country's Planning Minister, Ahsan Iqbal, confirmed the move over the weekend, citing tensions with India as the reason. This comes as Islamabad's total public debt has reached a staggering PKR 76 trillion (around $269 billion), as per its economic survey 2024-25. However, the country's defence spending remains dwarfed by India's read more Chief of Army Staff of Pakistan Asim Munir holds a microphone during his visit at the Tilla Field Firing Ranges (TFFR) to witness the Exercise Hammer Strike, a high-intensity field training exercise conducted by the Pakistan Army's Mangla Strike Corps, in Mangla, Pakistan May 1, 2025. Inter-Services Public Relations (ISPR) via Reuters Pakistan is increasing its defence budget amid recent tensions with India. The country's Planning Minister, Ahsan Iqbal, said on the weekend that the government will hike its defence budget for the 2025-26 fiscal year. The move comes even as Pakistan remains debt-ridden and the country faces economic instability and high inflation. As Pakistan increases its defence budget, we take a look at how it compares with India's. Pakistan to raise defence budget Pakistan's Planning Minister Ahsan Iqbal confirmed on Saturday (June 7) that the government will increase the defence budget. 'It is our national duty to provide the armed forces with whatever they need in this budget to bolster their capacity and defend our country in the future. It has been proven that we have a dangerous neighbour (India) who attacked us in the night, but we gave them a befitting response,' he was quoted as saying by Pakistan's Dawn. STORY CONTINUES BELOW THIS AD Iqbal said the country must 'remain ready to respond if they attack again'. The likely step comes amid Pakistan's economic woes. The country's economic survey 2024-25 revealed that Islamabad paid $7.8 billion in external debt service payments in the previous financial year. A boy plays with a soccer ball next to a smouldering pile of rubbish, ahead of the World Environment Day, in Karachi, Pakistan, June 4, 2025. Reuters The country is spending more than 1.9 per cent of its gross domestic product (GDP) on debt service payments, according to the survey. Pakistan's total public debt has reached a staggering PKR 76 trillion (around $269 billion), almost double since 2020-21. Of this, Islamabad owes $87.4 billion to other countries and multilateral agencies. Pakistan has to pay China $15 billion – the largest amount among bilateral lenders. This is followed by Japan at $3 billion and France at over $1 billion. The Shehbaz Sharif government's decision to hike the military budget comes amid significant damage to Pakistani airbases and air defence systems in the strikes by India under Operation Sindoor in the wake of the Pahalgam terror attack. Pakistan's military budget Pakistan will unveil its annual budget for the coming fiscal year today (June 10), reported to be a PKR 17.6 trillion budget. According to Reuters, analysts predict a rise of about 20 per cent in the country's defence budget. Pakistan had increased its defence budget by 16.4 per cent last year. Pakistan allocated PKR 2.1 trillion for defence in the FY 2024-25, including $2 billion for equipment and other assets. The country's military expenditure stood at $10.2 billion for 2024-25, data by Stockholm International Peace Research Institute (SIPRI) revealed. STORY CONTINUES BELOW THIS AD To counter India's technologically advanced forces, Islamabad has focused its defence spending on maintaining nuclear capabilities and expanding its missile systems. Pakistan has an edge over India only in mobile rocket systems, 600 over New Delhi's 264, as per an Economic Times (ET) report. India, Pak comparison India has a bigger military than Pakistan and notably higher defence spending. For the 2025-26 fiscal year, India set aside $78.7 billion for defence spending, a 9.5 per cent rise from the previous year. India's military spending for 2024-25 was at $86.1 billion, as per SIPRI data. This makes the country the fifth-largest military spender in the world. The world's most populated country's defence budget has grown in the past decade. In 2013, India's military spending was at $41 billion. This nearly doubled to $80 billion by 2024, as per data from Macrotrends. India is seeking to enhance its defence capabilities by expanding the domestic production of weapon systems to reduce dependence on foreign suppliers. It has also enhanced its air power by making key purchases such as Rafale fighter jets. STORY CONTINUES BELOW THIS AD When it comes to manpower, India has 14.5 lakh active military personnel, as compared to its rival neighbour's 654,000. India boasts 730 combat-ready aircraft, while Pakistan has 452 military aircraft. India's military has 4,201 tanks and roughly 149,000 armoured vehicles, with Pakistan possessing only 2,627 tanks and 17,500 armoured units. India's naval power is also superior to Pakistan's. The Indian Navy operates 293 vessels, including two aircraft carriers, 18 submarines, and 13 destroyers. Pakistan, on the other hand, has 121 vessels but does not have aircraft carriers or destroyers. With inputs from agencies
Straits Times
21-05-2025
- Politics
- Straits Times
Beloved strongman: Support for Pakistan army chief surges after India conflict
FILE PHOTO: Members of the Pakistani Hindu community hold flags and placards showing the picture of Chief of Army Staff of Pakistan Asim Munir, as they chant slogans during a rally in support of the Pakistan Army, in Karachi, Pakistan May 10, 2025. REUTERS/Shakil Adil/File Photo FILE PHOTO: Chief of Army Staff of Pakistan Asim Munir holds a microphone during his visit at the Tilla Field Firing Ranges (TFFR) to witness the Exercise Hammer Strike, a high-intensity field training exercise conducted by the Pakistan Army's Mangla Strike Corps, in Mangla, Pakistan May 1, 2025. Inter-Services Public Relations (ISPR)/Handout via REUTERS/File Photo FILE PHOTO: People carry posters showing the pictures of Chief of Army Staff of Pakistan Asim Munir, (R) along with Ahmed Sharif Chaudhry, Director General of Inter-Service Public Relations wing of Pakistan Armed Forces, as they take part in a rally in support of Pakistan Army, a day after the ceasefire announcement between India and Pakistan, in Lahore, Pakistan, May 11, 2025. REUTERS/Mohsin Raza /File Photo ISLAMABAD - Pakistan's army chief General Asim Munir is the most powerful man in the country, but his popular support has surged after the worst conflict in decades with arch-rival India, shattering criticism of interference in politics and harshly cracking down on opponents. A grateful government has given him a rare promotion to Field Marshal "in recognition of the strategic brilliance and courageous leadership that ensured national security and decisively defeated the enemy". The military has ruled Pakistan for at least three decades since independence in 1947 and wielded extraordinary influence even with a civilian government in office. But it, and its hardline chief, have rarely received the widespread outpouring of affection seen this month that analysts say has reinforced the military's dominance in the nuclear-armed nation. "Long live General Asim Munir!" read placards held aloft in rallies in recent days in towns across Pakistan. His picture was put up on lamp posts and bridges, with some banners saying: "You are our saviour!" A survey conducted after the conflict by Gallup Pakistan, a local pollster, found that 93% of respondents felt their opinion of the military had improved. Munir's most bitter domestic foe, jailed former Prime Minister Imran Khan, also congratulated the military after this month's clashes with India, claimed by both nations as a victory. "It's my country, it's my army," Khan said in a post on X last week. "I pay tribute to the Pakistan Air Force and all our military personnel for their professionalism and outstanding performance." Yousuf Nazar, a political commentator, said of Munir: ."He has emerged as Pakistan's strongman with his military's reputation restored as a formidable force." Six months after he took charge in November 2022, Munir was faced with the most serious challenge to the military's hegemony when Khan's supporters attacked and ransacked military installations. Munir later faced sharp domestic criticism for the jailing of Khan and cracking down on supporters of his Pakistan Tehreek-e-Insaf party, as well as what critics alleged was rigging the general election last year to favour a rival party. But the conflict with India has turned that around, said Ayesha Siddiqa, author of Military Inc, a book on the Pakistan military. "It has made the general stronger than any other previous generals. He is a hero now," she said, adding that the contest between the neighbours will be headed by two hardliners, India's Hindu nationalist Prime Minister Narendra Modi and Pakistan's Munir, a devout Muslim. "It's an Islamist general versus a religious strongman," she said. The military did not respond to questions sent by Reuters. FUNDAMENTAL DIFFERENCE The spark for the latest fighting between the neighbours was an April 22 attack in Indian Kashmir that killed 26 people, most of them tourists. New Delhi blamed the incident on "terrorists" backed by Pakistan, a charge denied by Islamabad. On May 7, the Indian military carried out air strikes on what it called "terrorist infrastructure" in Pakistan, in response to the attack in Kashmir. Pakistan claimed to have downed at least 5-6 Indian fighter jets and carried out air strikes on Indian military bases. India has indicated that it suffered some losses and inflicted major damage on key Pakistani air bases and air defence systems. Munir, who has memorised the Muslim holy book, the Koran, has publicly underlined what he has said are fundamental differences between Islamic Pakistan and predominantly Hindu India. "Our religion is different. Our customs are different. Our traditions are different," he said in a speech in Islamabad a week before the attack in Indian Kashmir. The Indian army "with all their wherewithal" cannot "intimidate" Pakistan, he said, peppering his comments with verses from the Koran. "Pakistan needs to be a hard state." Pakistan's counter-strike against India was named by him as "Bunyan Marsoos", after a Koranic verse, which means Iron Wall, according to the military. It was launched on May 10 to coincide with dawn prayers, considered an auspicious time for Muslims. Munir, the son of a schoolteacher, is an infantry officer and a former head of both the powerful Inter-Services Intelligence and Military Intelligence. He remains army chief until November 2027 and could be appointed for another five-year term at that point. Husain Haqqani, a former Pakistani ambassador to the United States, said that even before the latest conflict, Munir was more hawkish on India than his predecessor as army chief, who had taken a more pragmatic and less ideological approach, seeking to improve relations. "Conflicts with India remind Pakistanis of the fragility of their country and they rally to their army as the entity that will save the country," said Haqqani. "The recent show of strength and standing up to India has helped General Munir solidify his position within the country." REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
Straits Times
20-05-2025
- Politics
- Straits Times
Pakistan army chief General Asim Munir promoted to field marshal
FILE PHOTO: A man carries dry tree branches as he walks past a poster of the Chief of Army Staff of Pakistan Asim Munir, a day after the ceasefire announcement between India and Pakistan, along a road in Islamabad, Pakistan, May 11, 2025. REUTERS/Akhtar Soomro/File Photo ISLAMABAD - Pakistan's army chief General Asim Munir will be promoted to the rank of field marshal, the prime minister's office said in a statement on Tuesday, the first time in almost 60 years that a general has been elevated to the role. His promotion, which was approved by the cabinet chaired by Prime Minister Shehbaz Sharif, comes days after the country's worst military conflict with India in nearly three decades. It came "in recognition of the strategic brilliance and courageous leadership that ensured national security and decisively defeated the enemy," Sharif said in a statement from his office. A security official said field marshal was a ceremonial five-star rank that usually signifies extraordinary leadership and wartime achievement. The promotion is the first since Pakistani dictator General Ayub Khan made himself a field marshal in 1965, he said. With the new ceremonial rank, he said, Munir will remain the army chief. The cabinet also decided to extend the service of Pakistan Air Force chief Air Marshal Zaheer Ahmed Babar Sidhu after his service term expires, the PM's office said. It did not say for how long Sidhu's job would be extended, nor did it say whether Munir's promotion to the rank of field marshal will mean that he has no retirement date. Munir started his job as army chief in November 2022. A parliamentary legal amendment extended Munir's term to five years in November 2023, from the usual three years for the role of army chief. "It is not individual, but an honour for the armed forced of Pakistan and the whole nation," Munir said in a statement issued by the army public relations wing. REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
Al Etihad
26-03-2025
- Politics
- Al Etihad
Nahyan bin Mubarak offers condolences to Pakistan's Army Chief on death of his mother during an official visit to Islamabad
27 Mar 2025 00:22 ISLAMABAD (WAM) Sheikh Nahyan bin Mubarak Al Nahyan, Minister of Tolerance and Coexistence, offered his condolences to General Asim Munir, Chief of the Army Staff of Pakistan, on the passing of his mother, on behalf of President His Highness Sheikh Mohamed bin Zayed Al Nahyan bin Mubarak emphasised the deep fraternal ties that bind the UAE and the Islamic Republic of his visit to the Pakistani capital, Islamabad, Sheikh Nahyan bin Mubarak was received by Mohsin Naqvi, Minister of Interior of Pakistan, and Hamad Obaid Al Zaabi, UAE Ambassador to the Islamic Republic of Pakistan, along with a number of senior government and military officials. The Pakistani side warmly welcomed the visit, which reflects the mutual respect and growing relations between the two the residence of the Army Chief, Sheikh Nahyan bin Mubarak conveyed the condolences of President His Highness Sheikh Mohamed bin Zayed Al Nahyan, the government and the people of the UAE. He prayed that Almighty Allah grant the deceased His vast mercy, make her abode in paradise, and bestow patience and solace upon her family and loved also expressed his heartfelt condolences and sincere sympathy, reaffirming the UAE's solidarity with the Pakistani leadership in a gesture that reflects the nation's authentic humanitarian Nahyan bin Mubarak was accompanied by a high-level delegation, including Sheikh Shakhboot bin Nahyan Al Nahyan, Minister of State, along with several senior government officials. The delegation's presence signaled the UAE's strong commitment to its bilateral relationship with his part, General Asim Munir expressed his deep gratitude and appreciation to His Highness Sheikh Mohamed bin Zayed Al Nahyan and to Sheikh Nahyan bin Mubarak Al Nahyan for this noble humanitarian gesture. He praised the sincere stances that have long characterised the relationship between Pakistan and the UAE – both in times of hardship and in shared areas of affirmed that such initiatives are not unfamiliar from the UAE, which is known for its honourable positions towards friends and partners under all also pointed out that the relationship between the two countries continues to witness steady growth across various fields, particularly in security, defense, economy, and humanitarian visit comes within the framework of the UAE leadership's keenness to uphold human connection and strengthen its partnership with the Islamic Republic of Pakistan. It reflects the humanitarian dimension and the strong historical bonds between the two brotherly peoples and underscores the UAE's ongoing commitment to strengthening diplomatic and humanitarian bridges and enhancing joint coordination with Pakistan in a way that serves the mutual interests of both nations and their peoples.
